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Swedol Q3 profit climbs 29.2% YOY

Swedol AB said its third-quarter normalized net income was 20 Swedish öre per share, an increase of 29.2% from 16 öre per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 13.0 million kronor, a gain of 29.2% from 10.1 million kronor in the year-earlier period.

The normalized profit margin rose to 3.7% from 3.1% in the year-earlier period.

Total revenue climbed 8.7% on an annual basis to 350.1 million kronor from 322.2 million kronor, and total operating expenses increased 7.4% from the prior-year period to 329.0 million kronor from 306.2 million kronor.

Reported net income increased 29.6% year over year to 16.2 million kronor, or 25 öre per share, from 12.5 million kronor, or 20 öre per share.

As of Nov. 11, US$1 was equivalent to 8.69 Swedish kronor.